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The Attitude of Gratitude…Thanksgiving 365 Days a Year

November 18, 2015

ThanksgivingAre you looking for a path to elevate your physical, financial, relational, mental and emotional capabilities?  How about gaining a higher level of control over your environment, personal growth, purpose in life and self-acceptance?  And to live each day with more happiness and a lower level of stress?  The answer may surprise you.  It is the attitude of gratitude.

So, what is gratitude?  Dan Sullivan, Founder and President of The Strategic Coach, offers the following definition:  Read more…

Reagan Consulting: Agent/Broker Organic Growth & Profitability Slip in Q3 2015

November 11, 2015

Slow salesSurvey Measures Large & Mid-Size Private Agencies & Brokerage Firms

Independent insurance agents/brokers posted median organic growth of 4.4 percent for the third quarter of 2015, compared with 6.0 percent recorded in the third quarter of 2014, as measured by the Reagan Consulting Organic Growth and Profitability (OGP) quarterly survey.

Profitability is coming down too, noted Reagan Consulting: 21.9 percent in Q3 2015 compared with 22.4 percent in Q3 2014 as measured by EBITDA (earnings before interest, taxes, depreciation and amortization).

The third-quarter results marked the slowest growth rate since late 2011, Reagan Consulting noted. It’s the first time in 14 quarters that broker growth rates dipped below 5 percent.

“Agent/broker organic growth is slowing – for privately-owned and public brokers – because commercial property-casualty insurance rates are officially in a soft market, ” explained Kevin Stipe, president of Reagan Consulting, a management consulting and merger-and-acquisition advisory firm for the insurance distribution system. He added that p-c rates have softened for four consecutive quarters, as measured by the Council of Insurance Agents and Brokers.

“Profit margins tend to increase during times of strong organic growth and decrease when growth rates slow,” noted Stipe.

From Agent/Broker to Risk Advisor – Your Success in 2016

October 27, 2015

“Business Man Hold Trophy Cup And Dollar Coin” by 1shotsAs 2015 rolls to a close, transitioning from a transactional insurance agent or broker to a risk advisor is an excellent career move.  Why now?  Downstream demand from small and mid-size businesses for outsourced risk management services is expanding exponentially as businesses try to minimize in-house costs and focus on growing their firms.  Read more…

Six Characteristics of Authenticity – Your Bravest Quality

October 15, 2015

“Hundred Percent Original Represents Bona Fide And Absolute” by Stuart MilesAt a recent workshop, Ed Wallace, author of Business Relationships that Last, conveyed that relational capital is built when you approach a client with “integrity, credibility, and authenticity.”  Authenticity is defined as “not false, genuine, real,” and people who are considered authentic demonstrate their sincerity by matching their actions to their words.  In other words, authentic people practice what they preach. Read more…

The Discovery Process (part 3 of 3): Stop Getting Rolled by the Incumbent!

October 6, 2015

 “Steamroller” by criminalattLast week we spoke about the power of walking away.  This week, let’s address the issue of getting rolled by the incumbent! The number one criteria for assessing the viability of a lead is the prospect’s relationship with his or her incumbent.  Yet many professionals have difficulty determining this relationship.

How often have you been asked to provide a competitive bid because the prospect wants to “keep the incumbent honest?”  Has a prospect ever given the incumbent last look at your proposal to get a lower price?  If you winced at the answers to these questions, you must understand how important it is that you determine your prospect’s relationship with his or her incumbent agent or broker. Read more…

The Discovery Process (part 2 of 3): Learn to Walk Away

September 30, 2015

“Left Or Right” by NaypongLast week we discussed what an effective discovery process would look like.  This week, we will dive into the importance of walking away.

In the discovery process — your first meeting with a prospective client — it’s important to learn when and how to walk away if someone is a poor fit for your unique process.  Not only is walking away a technique, it’s also supported by your mindset, tone, and manner.  You set the tone during the discovery process by being selective in your qualification standards. As you know, walking away is one of hardest things you have to do.   It’s human nature – most of us do not like confrontation and we don’t like telling people no.  Because we want people to like us, walking away conflicts with that desire. Read more…

Your Effective Discovery Process (part 1 of 3)

September 22, 2015

ID-100215456The first and most important part of your diagnostic, consultative process is discovery.  In this step, you are systematically uncovering the risk issues of your prospects before you move to step 2 – strategies to manage these risks.  An essential goal is to allow the prospect to make an informed decision to work with you, in an atmosphere where you can listen first, then apply solid and professional risk management solutions.  This mindset will differentiate you from your competition and create value for your prospect or client. Read more…


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